PSX Presents Federal Budget 2024-25 Proposals for Economic Growth and Employment Generation in Pakistan
Pakistan Stock Exchange (PSX) has submitted a series of important tax proposals to the Ministry of Finance (MoF) and the Federal Board of Revenue (FBR) for consideration in the federal budget for the fiscal year 2024-25. The measures recommended are revenue positive and will encourage resource allocation towards productive and documented sectors of the economy. This is important for economic growth and employment generation in Pakistan.
Mehfooz
Around 21,870 retailers register under Tajir Dost Scheme: FBR
Federal Board of Revenue (FBR) informed that a total of 21,870 retailers have been registered under the Tajir Dost Scheme by 30 May. According to the FBR data, around 17,569 retailers registered through Tajir Dost scheme while 4,301 registered other than this scheme.
Editor
Unregistered retailers, sellers must register by April 30: FBR
Federal Board of Revenue (FBR) Spokesperson said that all unregistered wholesalers, retailers, dealers and all shopkeepers must register by 30 April 2024 under Trader Friendly Scheme.
Adil Aziz
FBR to Launch Tajir Dost Scheme for Small Traders, Shopkeepers
The Federal Board of Revenue (FBR) has announced the initiation of tax collection under the newly proposed Tajir Dost Scheme for small traders and shopkeepers, slated to commence on July 15, 2024.
Maladministration in FBR Business Community looks towards FTO for fair treatment
Mr. Atif Ikram Sheikh, President FPCCI, has proposed that the office of the Federal Tax Ombudsman (FTO) should be utilized to deal with maladministration at Federal Board of Revenue (FBR) to create a fair, corruption-free and broadened taxation system. Business Community looks towards FTO for fair treatment at the hands of tax machinery
FBR revenue collections grew by 30% to Rs.5.1 trillion
The Federal Board of Revenue (FBR) collected Rs.5.150 trillion since July 2023 to mid of February 2024, showing growth of 30 percent.
FTO decides Rs 17,742.16 million refund claims
The Federal Tax Ombudsman (FTO) has addressed the grievances of the taxpayers by processing 8,963 cases with an implementation status of 94.07% during 2023
Chambers call for deferring PoS system’s implemenation
Chambers of Commerce and Industries (CCIs) from across South Punjab and small traders representatives urged the government to defer linking of Fast Moving Consumer Goods (FMCG) sector with Point of Sale (PoS) system from February 1.
Cabinet approves restructuring, digitization of FBR: Shamshad Akhtar
Caretaker Minister for Finance and Revenue, Dr Shamshad Akhtar, said that the Federal Cabinet has approved the restructuring and digitization of the Federal Board of Revenue (FBR), which would help to broaden the tax base as well as enhance revenue collection in the country.
Businessmen urge Chairman FBR for measures to curb smuggling
Chairman Federal Board of Revenue Malik Amjed Zubair Tiwana emphasized the need for sustained collaboration between Federal Board of Revenue and Financial Monitoring Unit (FMU) for development of quality financial intelligence on tax evasion and its optimal utilization in investigations.